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Following last week’s positive report from Netflix, Inc. (NASDAQ: NFLX), several internet firms will be reporting their earnings numbers this week. Those key names include Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Amazon.com, Inc. (NASDAQ: AMZN), Facebook Inc (NASDAQ: FB) and Alibaba Group Holding Ltd (NYSE: BABA).
The upcoming results come amid positive e-commerce data, which bodes well for leading internet firms.
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“Overall, our checks suggest continuing positive online spending trends in Q4, although F/X headwinds and widespread product discounting (e-commerce) could limit upside,” Baird analyst Colin Sebastian wrote in a note.
Looking ahead, Sebastian expects outlooks from Internet firms to reflect ongoing high levels of investments reflecting multiple long-term secular growth opportunities.
Internet Roundup
Following are Wall Street’s brief take on the upcoming quarterly earnings of leading internet companies:
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On other small and mid-cap firms, Sebastian expects generally positive reports from ChannelAdvisor Corp (NYSE: ECOM), Shutterfly, Inc. (NASDAQ: SFLY), Yelp Inc (NYSE: YELP) and Wayfair Inc (NYSE: W) on healthy mobile/e-commerce trends. That said, the analyst noted that margin issues could weigh a bit on Shutterfly and Wayfair.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.